Innovative Industrial Properties (IIPR) to Release Earnings on Wednesday

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Innovative Industrial Properties (NYSE:IIPR) is scheduled to be releasing its earnings data after the market closes on Wednesday, August 7th. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter. The firm had revenue of $6.82 million for the quarter. Innovative Industrial Properties had a net margin of 51.37% and a return on equity of 4.97%. On average, analysts expect Innovative Industrial Properties to post $3 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Shares of Innovative Industrial Properties stock opened at $98.97 on Tuesday. The firm has a market capitalization of $1.01 billion, a P/E ratio of 73.86 and a beta of 2.02. The company has a debt-to-equity ratio of 0.52, a current ratio of 209.93 and a quick ratio of 209.93. Innovative Industrial Properties has a 12-month low of $32.83 and a 12-month high of $139.53. The business’s 50-day moving average price is $119.71.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.42%. This is an increase from Innovative Industrial Properties’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, June 27th. Innovative Industrial Properties’s dividend payout ratio is presently 179.10%.

A number of equities research analysts have issued reports on the stock. ValuEngine downgraded shares of Innovative Industrial Properties from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Innovative Industrial Properties from a “hold” rating to a “buy” rating and set a $139.00 price objective on the stock in a research note on Wednesday, June 26th. Finally, BTIG Research increased their price objective on shares of Innovative Industrial Properties to $148.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $96.25.

In other news, CEO Paul E. Smithers sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $90.50, for a total value of $181,000.00. Following the sale, the chief executive officer now directly owns 45,565 shares in the company, valued at approximately $4,123,632.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brian J. Wolfe sold 3,181 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $89.01, for a total transaction of $283,140.81. Following the completion of the sale, the vice president now owns 14,955 shares in the company, valued at $1,331,144.55. The disclosure for this sale can be found here. Company insiders own 5.20% of the company’s stock.

About Innovative Industrial Properties

Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties, Inc has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017.

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Earnings History for Innovative Industrial Properties (NYSE:IIPR)

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